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Oncolytics Biotech Inc. (symbol: ONCY) is a pioneering biotechnology company dedicated to the development of oncolytic viruses as innovative cancer therapeutics. Their flagship product, pelareorep, is a unique immunotherapeutic agent designed to harness the power of the human reovirus to enhance the body's immune response against cancer. Pelareorep has shown promising potential in making tumors more responsive to a variety of oncology treatments by promoting an inflamed tumor phenotype.
The company's robust clinical development pipeline includes multiple human trials targeting some of the most prevalent cancers, such as breast, gastrointestinal, and pancreatic cancers. Notably, Oncolytics is conducting a Phase III trial for head and neck cancers and has several ongoing trials in advanced stages, including the GOBLET study, which explores the efficacy of pelareorep in combination with different chemotherapy regimens.
In breast cancer, Oncolytics is advancing towards registration-enabling studies for HR+/HER2- metastatic breast cancer, supported by compelling data from the BRACELET-1 and IND-213 randomized studies. The company is also making significant strides in pancreatic cancer research, recently receiving a US$5 million grant from the Pancreatic Cancer Action Network (PanCAN) for a new Phase 1/2 cohort in the GOBLET study, assessing pelareorep in combination with modified FOLFIRINOX and atezolizumab (Tecentriq®).
Financially, Oncolytics is well-positioned with a strong balance sheet and ongoing support from strategic partnerships and grants. The company’s collaborations with leading research institutions and oncology networks enhance its clinical programs and accelerate the development of pelareorep as a versatile cancer therapy. Oncolytics continues to innovate and push the boundaries of cancer treatment, aiming to bring new hope to patients worldwide.
Oncolytics Biotech announced a new multi-center phase 1/2 clinical trial, GOBLET, to evaluate pelareorep in combination with Roche's atezolizumab for gastrointestinal cancers, targeting the nearly 4.8 million global cases annually. The trial aims to improve treatment responses in patients—especially since about 80% do not respond to current therapies. Previous studies showed promising results, including over 90% clinical benefit in colorectal and 80% progression-free survival in pancreatic cancer patients. The trial will enroll about 55 patients across four cohorts, focusing on safety and biomarkers.
Oncolytics Biotech has appointed Richard Vile, Ph.D., to its Scientific Advisory Board. A prominent expert in oncolytic viruses and adoptive T cell therapies, Dr. Vile joins to strengthen the team focused on advancing pelareorep, an innovative immuno-oncolytic virus. His insights are expected to enhance pelareorep's synergy with immunotherapeutic agents, aimed at treating cancers like metastatic breast cancer. This move highlights Oncolytics' commitment to addressing unmet medical needs and advancing clinical studies.
Oncolytics Biotech Inc. (NASDAQ: ONCY) announced the appointment of Dr. Richard Vile to its Scientific Advisory Board. Dr. Vile, a Professor at Mayo Clinic, specializes in oncolytic viruses and immunotherapy. His expertise is expected to enhance Oncolytics' strategic direction as the company advances its lead candidate, pelareorep, which targets immunosuppressive tumor environments and shows promise in treating breast cancer. Positive clinical data supports pelareorep's potential advantages in regulatory approval and efficacy against challenging cancers.
Oncolytics Biotech Inc. (NASDAQ: ONCY) announced its participation in the BIO Investor Forum Digital from October 13-15, 2020. Attendees can access an on-demand corporate overview by CEO Dr. Matt Coffey and schedule one-on-one investor meetings through the event website. The company is developing pelareorep, an immuno-oncolytic virus that targets various cancers by inducing tumor lysis. Pelareorep shows potential synergies with immune checkpoint inhibitors and is preparing for a phase 3 study in metastatic breast cancer.
Oncolytics Biotech Inc. (NASDAQ: ONCY) announced its participation in two investor conferences in September 2020. Dr. Matt Coffey, CEO, will present at the LD Micro 500 Virtual Investor Conference on September 3, 2020, at 4:20 pm ET, followed by a presentation at the H.C. Wainwright 22nd Annual Global Investment Conference on September 15, 2020, at 2:00 pm ET. Investors can join these webcasts via the links provided. The company is advancing its cancer treatment, pelareorep, which shows promise in enhancing tumor response.
Oncolytics Biotech Inc. (NASDAQ: ONCY) announces the dosing of the first patient in its phase 2 IRENE study evaluating pelareorep combined with Incyte's anti-PD-1 checkpoint inhibitor retifanlimab for triple-negative breast cancer (TNBC). This study, co-sponsored by the Rutgers Cancer Institute of New Jersey and The Ohio State University, aims to assess safety, efficacy, and biomarkers. With a focus on a poorly served cancer subtype, this trial addresses an urgent need for better treatment options in TNBC.
Oncolytics Biotech has initiated the IRENE study, a phase 2 trial examining the combination of pelareorep and Incyte's anti-PD-1 checkpoint inhibitor, retifanlimab, in treating unresectable locally advanced or metastatic triple-negative breast cancer (TNBC). The first patient has been dosed as part of this multi-center study, co-sponsored with Rutgers Cancer Institute and The Ohio State University. The trial aims to assess safety, efficacy, PD-L1 expression changes, and T cell clonality. This innovative approach addresses the urgent need for effective treatments in the aggressive TNBC subtype.
Oncolytics Biotech Inc. (NASDAQ: ONCY) announced its participation in the virtual Canaccord Genuity 40th Annual Growth Conference on August 12, 2020. CFO Kirk Look will present at 8:00 am ET, with a live webcast available here. The Company will also conduct one-on-one investor meetings. Oncolytics is focused on developing pelareorep, an immuno-oncolytic virus for cancer treatment, which shows promise in combination with other therapies. For further updates, visit the Company's website.
Oncolytics Biotech reported its Q2 2020 financial results, highlighting significant clinical progress despite COVID-19 challenges. The company initiated the BRACELET-1 trial and presented promising data at the ESMO meeting, confirming the mechanism of action for its lead product, pelareorep. Financially, Oncolytics had $29.9 million in cash but recorded a net loss of $6.8 million, with a diluted loss per share of $0.17. The firm also established an ATM facility to bolster financial flexibility for ongoing clinical trials.
Oncolytics Biotech (NASDAQ: ONCY) announced a conference call on August 4, 2020, at 4:30 PM ET to discuss its second-quarter financial results. The company is focused on its clinical candidate, pelareorep, which is designed to treat various cancers by inducing tumor lysis and enhancing immune responses. Oncolytics is currently preparing for a phase 3 registration study in metastatic breast cancer. Potential risks include interruptions from COVID-19 affecting operations and clinical trials.
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